Student Loan Forgiveness
Student loan forgiveness is a hot topic for many Americans. It’s heavily sought because people take on unimaginable student loans to get a degree that will land them a good job. On that subject, on November 10th, 2022 a Texas judge in the US blocked President Joe Biden’s student loan forgiveness plan.
The plan was to give each borrower $20,000 in student-loan forgiveness. However, other areas in the US have objected the plan by six states challenging a different lawsuit in a St. Louis federal appeals court. Six other American states said that Joe Biden cannot forgive student loan debt for everyone. These states Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina.
Pick up a fresh dining set while moving into your dorm.
Why Everyone’s Getting Hyped over Student Loan Forgiveness
People need good jobs. In order to get most good jobs, employers ask workers to have an degree, ideally from an accredited university.
What defines a good job? For someone looking for work a good job should have a low unemployment rate or competition, safe working conditions, good pay, and a shortage of skilled workers in that job to show that there is job growth.
What does this have to do with student loan forgiveness? In order for people to get their degrees, they pay tuition each semester or year to study their field of choice. As of October 2022 each American student spends an average of $35,000 per year to go to school, including books, supplies, and daily living expenses.
Do Other Countries Talk About Student Loan Forgiveness?
ETH Zurich is an university located in Switzerland, Europe that was founded in 1855. It specializes in science and technology and was made as a center of innovation and knowledge. The Swiss Accreditation Council accredited it in October 2021.
Below are its global rankings:
- #11 on the World University Ranking by Times Higher Education
- #9 on the World University Rankings by Quacquarelli Symonds Ltd
- #20 Academic Ranking of the World Universities by Shanghai Jiao Tong University
Tuition for each semester for Swiss and non-Swiss or international students is 730 Swiss Francs (CHF). As of November 13, 2022 this is equal to 776.12 US Dollars (USD), 975.21 Canadian Dollars (CAD), and 655.65 British Pounds (GPB).
Chances are alumni of this school do not talk about student loan forgiveness with how reasonable tuition is and how employable they become after getting their credential from this school.
The Best Majors
Some of us have heard teachers tell us to follow our dreams when deciding on what to study. That does sound nice, however, reality says otherwise. if you’re looking to get a job with low unemployment, good pay, and a shortage of workers, then look into labour statistics and your local job market.
STEM is an acronym for science, technology, engineering, and math. Jobs that fall under these studies usually have low unemployment, decent pay, and are respected by society. The only downside to these jobs is that they can be hard to learn compared to other fields of study. Example titles include mechanical engineer, chemist, software developer, and actuary.
Other solid majors include medicine, law, finance. Aside from finance, medicine and law make students pour lots of time before getting their academic credential. However, the return on investment ends up paying off. Doctors typically make $229,000 dollars per year and lawyers usually make $122,000 per year.
I think it’s safe to say that if you’re going to university of college and don’t study the fields above, going to university and taking on heavy student loans is not wise.
Alternatives to University and College
Aside from making your own business, there are other ways to get skills to get a job and make money. The other choices that you have are:
- Learn a trade
- Skill certifications
- Apprenticeships and internships
A trade job is any job that usually needs special skills not learned from a 4-year college or university, by through advanced training. Common job preparation steps include vocational training at a trade school, apprenticeship, or on-the-job training. Skilled trades are trade jobs in construction and manufacturing. Many of these fields are seeing great job growth.
An apprenticeship is where employers train workers and workers get paid work experience, classroom instruction, and nationally-recognized credentials, and training from employers.
Certifications, or skill certiifcates, are educational credits given by a qualified training provider to show that a worker knows a technical or job skill needed for getting work or advancing in the worker’s job.
Summary
Student loan forgiveness is a serious need for many people around the world, including Americans. Tution fees in the US and other Commonwealth countries are much higher than other countries. This is likely because these schools are accredited, unlike foreign schools.
How much student debt did you pick up after finishing school? How long did it take you to pay it off? Do you know any hacks to deal with high tuition fees?
Leave a comment below and share your knowledge with everyone.
